Apple CEO Announces Plans for Leave, Stock Falls

Steve Jobs says he will take medical leave until June.

Wired PR News.com – Apple Inc. CEO Steve Jobs has stated he will take a leave from the company for medical reasons. As reported by the Associated Press (AP), Jobs is set to take time off until June citing, “During the past week I have learned that my health-related issues are more complex than I originally thought.”

Jobs had released statements prior saying physicians had discovered the cause of his noticeable weight loss, and the condition would be relatively easy to treat. However, Wednesday’s announcement proved to be a change in tone for the cancer survivor.

As noted by the AP, investors have seemed to respond negatively to the news about Jobs’ health, with Apple share prices decreasing by 7 percent.

During Jobs’ absence, Tim Cook, Apple’s current chief operating officer will carry out the duties of the position.